Mumbai: Vakrangee Ltd, an ATM services provider, reported a 201% year on year (YoY) increase in consolidated net profit to ₹3.15 crore in Q3 FY26, despite a 10.3% decline in income. The company has attributed this to a direct supply of ATM machines to Vakrangee, with the elimination of inter-company sales from its subsidiaries.
The company’s total income was ₹68.6 crore in Q3 FY25, which has declined to ₹61.57 crore this time. The company’s EBITDA has grown 48.7% YoY from ₹6.22 crore to ₹9.26 crore, a YoY increase of 48.7%.
As a provider of white-label ATM services, Vakrangee is looking to expand across the country, with master franchisees appointed in 572 districts across 33 states and UTs in India. The company, which mainly operates in rural areas, has deployed more than 1,000 new ATM machines in the first 9 months of FY25-26, even as the company is looking to expand into financial services like loans, mutual funds and insurance in rural and semi-rural areas, where the brand has a strong presence.
The company’s engineering arm, Vortex Engineering, also witnessed a 23.4% rise in ATM machines shipped, from 1,185 in the first 9 months of FY24-25 to 1,462 this time. Correspondingly, its revenues have also increased 17% from ₹47.58 crore to ₹55.66 crore in the same period.
The company’s shares were trading at ₹6.63 on January 23, the last trading session before the company released its numbers.
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